Showing 1 - 10 of 20
The authors study the impact of bank concentration, regulations, and national institutions on the likelihood of suffering a systemic banking crisis. Using data on 79 countries over the period 1980-97, they find that crises are less likely (1) in more concentrated banking systems, (2) in...
Persistent link: https://www.econbiz.de/10004989897
The authors empirically evaluate the relationship between stock market development and long-term growth. The data suggest that stock market development is positively associated with economic growth. Moreover, instrumental variables procedures indicate a strong connection between the...
Persistent link: https://www.econbiz.de/10005079849
This paper reviews the conceptual, methodological, and statistical problems associated with drawing inferences from cross-country regressions. The authors elaborate on the particular problems associated with empirical attempts to link particular policies with long-run growth. They hope to...
Persistent link: https://www.econbiz.de/10005080062
This paper shows how stock markets can accelerate growth and how policy can affect that growth either directly (by altering investment incentives) or indirectly (by changing the incentives underlying the creation of financial contracts). To help explain the role of financial markets in economic...
Persistent link: https://www.econbiz.de/10005030389
Costly bank failures in the past two decades have focused attention on the need to find ways to improve the performance of different countries'financial systems. Belief is overwhelming that financial systems can be improved but there is little empirical evidence to support any specific advice...
Persistent link: https://www.econbiz.de/10005030426
In the late 1980s, transitional socialist economies (TSEs) in Central and Eastern Europe were only somewhat more sophisticated than shell money systems: savings books or currency had to be used for most transactions and there was no risk assessment, information monitoring and acquisition, or...
Persistent link: https://www.econbiz.de/10005030457
The author argues that the preponderance of theoretical reasoning and empirical evidence suggests a positive first order relationship between financial development and economic growth. There is evidence that the financial development level is a good predictor of future rates of economic growth,...
Persistent link: https://www.econbiz.de/10005030585
A vast amount of literature uses cross-country regressions to find empirical links between policy indicators and long-run average growth rates. The authors study whether the conclusions from existing studies are robust or fragile when small changes in the list of independent variables occur....
Persistent link: https://www.econbiz.de/10005128655
The authors report cross-country data on commercial bank regulation and ownership in more than 60 countries. They evaluate the links between different regulatory/ownership practices in those countries and both financial sector performance and banking system stability. They document substantial...
Persistent link: https://www.econbiz.de/10005128656
The authors explore the relationship between the relative size of the small and medium enterprise (SME) sector, economic growth, and poverty using a new database on the share of SME labor in the total manufacturing labor force. Using a sample of 76 countries, they find a strong association...
Persistent link: https://www.econbiz.de/10005128897